NEW YORK--(BUSINESS WIRE)--Electronifie, operator of an all-to-all corporate bond trading marketplace, has been named “Most Cutting-Edge IT Initiative” by Waters Technology in its annual American Financial Technology Awards (AFTAs) for “[leveraging technology] in a new or unique way that sets it apart from its competitors.”
The AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities. A record number of applicants submitted entries this year with four other entrants named finalists for the “Most Cutting-Edge IT Initiative” category.
“Our mission while building the Electronifie marketplace was to create a platform that fits into a trader’s existing workflow while introducing mechanisms to eliminate gaming and uncover new sources of risk-free institutional-sized liquidity,” said Ian McAllister, Electronifie Chief Technology Officer and Chief Financial Officer. “We have effectively applied leading-edge technology and processes to create a platform that is incredibly nimble at implementing customer feedback. The result is a sleek user-interface with execution mechanisms designed in conjunction with our clients, and we are pleased to accept this award based on our collaborative work.”
"We have taken a novel approach to building a trading platform by leveraging the most productive coding technologies running in a fully virtualized infrastructure, while embracing and contributing to the open-source community,” added Stefan Kutko, Electronifie VP of Engineering. “This has allowed our highly-talented, highly-selective in-house technology team to deliver a superior product in shorter timeframes compared to other firms with substantially more technology resources. By harnessing the power of technology, we’re evolving market structure a step forward to help solve the liquidity crisis in corporate bonds."
The Electronifie marketplace was built with the goal of providing unprecedented liquidity and quality execution for institutional investors and dealers looking to trade efficiently in large size. Electronifie’s smart technology matches buyers and sellers by alerting users of relevant trading opportunities while also protecting sensitive order information and helping to satisfy best execution. The Electronifie marketplace has experienced significant growth in order flow and user participation since commencing trading operations in May. Currently, over 290 traders at 75 asset managers and broker-dealers are enabled to trade on Electronifie. Those users have routed over $36 billion of executable orders since inception and have executed over $820 million in bond notional on Electronifie in the past six months.
Electronifie operates an all-to-all non-attributed corporate bond trading platform with a focus on deep liquidity and block-sized order execution. Electronifie is dedicated to providing a fair and open marketplace for institutional investors to trade safely and in large size while limiting information leakage. Electronifie received FINRA’s approval to operate as a registered broker-dealer and is registered with the SEC to operate an Alternative Trading System for corporate bonds. For more information, visit www.electronifie.com.